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Nov 16, 2012
11/12
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that's a 2.5% of gdp tax increase or $5 trillion tax increase over the next decade. he tends not to mention that. add to that $1 trillion in limiting deductions -- >> okay, you're deep in the weeds here, grover. first of all, did alan simpson really leave a message on your voicemail? >> oh, several. rambling and long and inane. yes. >> all right. now, even john boehner and mitch mcconnell came out of that meeting in the white house and used the word revenue. it's on want table. they are acknowledging they will raise revenue. the only way i know to raise revenue is to raise taxes. i mean, does it sound to you like there's going to be a tax increase after all? >> no. if you remember, the comment that boehner and mitch mcconnell have made is they want revenue from economic growth. the best way to get revenue for the federal government is to grow the economy faster rather than slower. if you grow at 4% a year instead of 2% a year for one decade, the government raises $5 trillion. that is how you balance the budget. you cut spending, just as the republicans did in the las
that's a 2.5% of gdp tax increase or $5 trillion tax increase over the next decade. he tends not to mention that. add to that $1 trillion in limiting deductions -- >> okay, you're deep in the weeds here, grover. first of all, did alan simpson really leave a message on your voicemail? >> oh, several. rambling and long and inane. yes. >> all right. now, even john boehner and mitch mcconnell came out of that meeting in the white house and used the word revenue. it's on want...
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Nov 20, 2012
11/12
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him, not to raise taxes. he's going to hold them to t guys. >> all right, eamon. thanks very much. be sure to tune into "the kudlow report" tonight. larry's guest is grover norquist. that's tonight at 7:00 p.m. eastern. >>> raising taxes on only the wealthy does not do a lot to dent the deficit. we know that. still, it remains a focal point on the fiscal cliff negotiations. it's creating a divide among conservatives. >> joining us now to talk about this is j.d. foster from the heritage foundation. he's holding out for true tax reform that would broaden the base and eliminate deductions. john mccormick is staff writer "the weekly standard. he says giving in on raising tax rates now would give republicans leverage later on tax reform. so we've got a nuanced argument going here. john, what do you mean? what kind of leverage would they need by allowing for the tax breaks now? >> the problem is they don't have any leverage right now as we speak. i mean, president obama just won a decisive election. democrats incre
him, not to raise taxes. he's going to hold them to t guys. >> all right, eamon. thanks very much. be sure to tune into "the kudlow report" tonight. larry's guest is grover norquist. that's tonight at 7:00 p.m. eastern. >>> raising taxes on only the wealthy does not do a lot to dent the deficit. we know that. still, it remains a focal point on the fiscal cliff negotiations. it's creating a divide among conservatives. >> joining us now to talk about this is j.d....
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Nov 26, 2012
11/12
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FOXNEWSW
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when you throw in the higher state taxes in cities and states promising millionaire tax hikes, not just affecting if millionaires. that brings us to 60%. that is 15 points higher. this isn't specious math. this is logical math. courtesy of the republican strategy hellbent on ignoring that for fear of getting it on rates. the republicans risk being snookered by the democrats who know the opponent's number. blinded in the grand old quest to keep rates moving up, they don't see the other side just taken them to cleaners. we are going to debate this tonight. you can watch other choices. but you can still watch him and watch me. i am a nice appetizer then. that's how i look at it. appetizer. if you did online shopping i'd be a good buy. you know a lot about the cyber bye. >> demand it! >> no. >> you were shopping. >> i was not. not doing anything. >> you were. >> was not. >> that is a laptop.
when you throw in the higher state taxes in cities and states promising millionaire tax hikes, not just affecting if millionaires. that brings us to 60%. that is 15 points higher. this isn't specious math. this is logical math. courtesy of the republican strategy hellbent on ignoring that for fear of getting it on rates. the republicans risk being snookered by the democrats who know the opponent's number. blinded in the grand old quest to keep rates moving up, they don't see the other side just...
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Dec 18, 2012
12/12
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stuart: as news develops about taxes, higher tax tax rates are coming. that does not sit well with grover norquist. he will tell us all about his position 10:35 this morning, he is on this program. let's go to nicole. i want to check in with apple. where are they? 4 minutes past 10:00 eastern time. nicole: apple is doing great today. yesterday we talked about the fact it was at 501. it's traded as high as 526 and change. they are head-to-head with samsung here in the states and abroad. i was reading some headlines, samsung, injunction against the apple in eu, but at the same time a judge decided against apple today. there's back and forth between the companies. when you look at technicals, it is a winner. one thought on housing, the mentality of people, is it an investment, a good investment? it is great for people who are naturally spenders because if you buy a house and you have extra cash and you know you have to pay the mortgage, you're going to pay the mortgage, versus pend it frivolously on things like starbucks. stuart: what is cheap and easy to f
stuart: as news develops about taxes, higher tax tax rates are coming. that does not sit well with grover norquist. he will tell us all about his position 10:35 this morning, he is on this program. let's go to nicole. i want to check in with apple. where are they? 4 minutes past 10:00 eastern time. nicole: apple is doing great today. yesterday we talked about the fact it was at 501. it's traded as high as 526 and change. they are head-to-head with samsung here in the states and abroad. i was...
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Jan 8, 2012
01/12
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now i don't believe that the republicans aren't raising taxes according to grover's pledge. people forget not raising taxes is a primary tenet of the republican party so what he has done though is corporate ties it into an actual pledge so that if somebody breaks that to their constituents into their voters, they can hold them accountable. what i propose is a similar thing with good governance. let's come up with changes that are going to fix the system and let's say that they sign these pledge that they are going to vote for and cosponsored with everything they can to push through legislation that enacts these kinds of changes and frankly takes away their -- in terms of this lifeboat in congress and afterwards and hold them to it. if they don't do it, kick them out. >> host: you describe having met grover norquist as a college republican. describe what the role of these two men played in your life and the role they play now. >> guest: well, grover and i met, he was a student at harvard business school and i was a student at brandeis. i just become the head of the college re
now i don't believe that the republicans aren't raising taxes according to grover's pledge. people forget not raising taxes is a primary tenet of the republican party so what he has done though is corporate ties it into an actual pledge so that if somebody breaks that to their constituents into their voters, they can hold them accountable. what i propose is a similar thing with good governance. let's come up with changes that are going to fix the system and let's say that they sign these pledge...
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Nov 27, 2012
11/12
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neil: it would be a tax, a climate tax, really? >> no,. neil: what do you doll th call g crazed. >> we have promised to give to global climate fund. neil: if you are paying that money, that is more money than you pay now, so, -- -- what it is a dessert. >> part of our shared responsibility? we have a responsibility. neil: you don't call that a tax? >> it's not a tax. >> what it is. >> a shared responsibility. neil: if you force me to give you money, i don't have to call it a tax, but it sure as hell will feel like a tax. >> you are giving me the money, i'm not forcing you to give me the money, it is in our shared interest to give me that. neil: you tell that to the wealthy countries, you think they will go along, and say she is absolutely right. >> if they were smart, they would. >> what do you say 10 years from now, are still a young woman i will belong retired, but, 10 years, and it has not done squat. you say oh, my god, it is all wrong. >> it won't, because investment will be worth a -- it will payoff. without these countries, adapting
neil: it would be a tax, a climate tax, really? >> no,. neil: what do you doll th call g crazed. >> we have promised to give to global climate fund. neil: if you are paying that money, that is more money than you pay now, so, -- -- what it is a dessert. >> part of our shared responsibility? we have a responsibility. neil: you don't call that a tax? >> it's not a tax. >> what it is. >> a shared responsibility. neil: if you force me to give you money, i don't...
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Sep 24, 2012
09/12
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he's the anti-tax crusader who has gotten a lot of republicans to agree to a no new tax increase pledge. if you go over the fiscal cliff, that would allow republicans to vote for a retroactive decrease in taxes that would get you past grover norquist's pledge because they would not have voted to increase taxes, even though taxes would end up higher after than before, if you can follow that logic. also, using the market turmoil to negotiate, that gives you leverage. if there's a big reaction on wall street, that gives folks here in washington some leverage they think might bring the opposite side to the table. and then deciding that austerity will work. there are some republicans in town who believe fundamentally we need to take this tough medicine and take it right now and then, of course in, washington, as always, there's placing blame, and after an election year that's been very, very partisan and bitter there might be a lot of folks in washington looking forward to a new opportunity in january to start placing blame all over again. sue. >> thank you very much. >>> news reports from i
he's the anti-tax crusader who has gotten a lot of republicans to agree to a no new tax increase pledge. if you go over the fiscal cliff, that would allow republicans to vote for a retroactive decrease in taxes that would get you past grover norquist's pledge because they would not have voted to increase taxes, even though taxes would end up higher after than before, if you can follow that logic. also, using the market turmoil to negotiate, that gives you leverage. if there's a big reaction on...
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Nov 28, 2012
11/12
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anti-tax champion grover norquist last night told me he's keeping republicans to the no tax increase pledge they made decades ago. but should his party back away from that promise? joining me in his first interview since the election, reince priebus, chairman of the republican national committee. welcome back, mr. priebus. how are you? >> doing great, piers. how are you? >> you have been keeping your head below the paraput since the shellacking you guys took in the election. what is your reaction to the pretty poor defeat? >> well, i think that we got to look at everything that we're doing. i think that's what we have to do. i don't think you can draw any quick conclusions other than the fact that we lost and we know that. but i think in order to get back in the game, you've got to look at and do a full autopsy of what happened, what we did well, what we didn't do well, what we can do better in the next year with two governors' races coming up and two years later, then four years from now. so what we're going to do is we want to bring everyone together. leaders from across the countr
anti-tax champion grover norquist last night told me he's keeping republicans to the no tax increase pledge they made decades ago. but should his party back away from that promise? joining me in his first interview since the election, reince priebus, chairman of the republican national committee. welcome back, mr. priebus. how are you? >> doing great, piers. how are you? >> you have been keeping your head below the paraput since the shellacking you guys took in the election. what is...
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they voted on a tax cut for the bottom 98%. they are thinking that this will fool grover norquist and maybe it would if he was woman-born. oh, you fools. you fools, the norquist cannot be tricked so easily. oh, some may think the norquist would forget the blood oath they signed years ago when they granted them their powers but the norquist is always watching, always waiting. oh, the bearded one is vengeful. [ laughter ] just ask former president george h. w. bush who recent lid said you can't be we haded to a formula by him it's -- who the hell is he anyway? [ laughter ] well, well, a-ha. don't look now, mr. president but that is not barbara by your side. noooooorquiiiisst. now i shant repeat his name again because if you say it too many times he will appear behind you and slash more than your taxes. [ laughter ] harry reid if you want to avoid the fiscal cliff and help the republicans defeat he who must not be shaved come up with a simpler plan. mib the republicans can fake their death, grow goatees and come back to vote as ev
they voted on a tax cut for the bottom 98%. they are thinking that this will fool grover norquist and maybe it would if he was woman-born. oh, you fools. you fools, the norquist cannot be tricked so easily. oh, some may think the norquist would forget the blood oath they signed years ago when they granted them their powers but the norquist is always watching, always waiting. oh, the bearded one is vengeful. [ laughter ] just ask former president george h. w. bush who recent lid said you can't...
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Nov 27, 2012
11/12
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when you tax something usually get less of it, like cigarette taxes to curb smoking or carbon tax to curb carbon emissions. financial advisers say individual investors are considering doing their investing elsewhere. other countries because of the higher taxes. now, the investing mobile bullies that wealthy folks should have to pay a minimum tax. look. there is already an alternative minimum tax set up with just that idea, to catch of the scofflaws who don't pay their fair share. unfortunately the brain surgeons on capitol hill have never in next the tax for inflation. knight captures 4 million americans, many of which it would be a strain to consider wealthy. even if you had of -- led all the bush tax cut expired the revenue would only fund the government for eight half days. aid now have days. we need a better solution than that. the comments are based on the idea that there are no unintended consequences of government policy. people embrace changes, and the world keeps on spending. i believe that results would be catastrophic. capital flight to my jobs left unfilled, weaken the ec
when you tax something usually get less of it, like cigarette taxes to curb smoking or carbon tax to curb carbon emissions. financial advisers say individual investors are considering doing their investing elsewhere. other countries because of the higher taxes. now, the investing mobile bullies that wealthy folks should have to pay a minimum tax. look. there is already an alternative minimum tax set up with just that idea, to catch of the scofflaws who don't pay their fair share. unfortunately...
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Jan 9, 2012
01/12
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i don't believe they are not raising taxes. people forget that not raising taxes is a primary tenant in the republican party. so what he's done though is turned it into an actual pledge so that if somebody breaks that to their constituents and to the voters they can help them accountable. what i propose is similar things in the government. those who are running for the seats sign a pledge they're going to vote for and co-sponsor and do everything they can to push through legislation that enacts these kind of changes and frankly takes away their purposes in terms of this, and afterwards told them to the and if they don't come kick them out. >> host: you describe having grover norquist as a college republican. i believe ralph reed as well. describe the role that these men played in your life and the role that the plan now. >> guest: grocery and i met at harvard business school and i was a student at brandeis. i'd just become the head of the college republicans up there and grover was back in the organization and together we organ
i don't believe they are not raising taxes. people forget that not raising taxes is a primary tenant in the republican party. so what he's done though is turned it into an actual pledge so that if somebody breaks that to their constituents and to the voters they can help them accountable. what i propose is similar things in the government. those who are running for the seats sign a pledge they're going to vote for and co-sponsor and do everything they can to push through legislation that enacts...
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Jan 15, 2012
01/12
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now, i don't believe that republicans aren't raising taxes only because of grover's pledge. people forget that not raising taxes is a primary tenet of the republican party what he's done, though, is turn it into an actual pledge so that if somebody breaks that to their constituents and voters, they can hold them accountable. and what i propose is a similar thing with good government. let's come up with changes that are going to fix the system, and let's demand of our legislators and those who are running for these seats that they sign this pledge, that they're going to vote for, co-sponsor and do everything they can to push through legislation that enacts these kind of changes and, frankly, takes away their -- [inaudible] in terms of this life both in congress and afterwards and hold them to it. and if they don't do it, kick 'em out. >> host: you describe having met grover norquist as a college republican, i believe ralph reed as well. >> right. >> host: describe the role these two men played in your life and the role they play now. >> guest: well, grover and i met, he was a
now, i don't believe that republicans aren't raising taxes only because of grover's pledge. people forget that not raising taxes is a primary tenet of the republican party what he's done, though, is turn it into an actual pledge so that if somebody breaks that to their constituents and voters, they can hold them accountable. and what i propose is a similar thing with good government. let's come up with changes that are going to fix the system, and let's demand of our legislators and those who...
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Nov 30, 2012
11/12
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whey too high on taxes. not nearly enough on spending reductions. >> the president has said all the way along, if i give you a dollar of revenue, if you guys give me a dollar of revenue, that's $3 trillion in spending cuts. he's coming in with 400, so would you try to get him to 3 trillion here or try to bring down the revenue number? >> well, i think you have to bring down the revenue number. we are not going to tax and spend our way back into economic prosperity in this country. we are going to have to work together. i think most americans are tired of seeing the partisanship and debates. i'm pleased the speaker's up at the white house to find a solution. most people want certainty, long-term predictability in the economy and raising taxes for this amount i think would put us back into a recession and be counterproductive to get our economy going on. >> john boehner clearly, he's the key negotiator. are you going to agree to whatever deal he brings you, if he says representative yoder, it's $1.4 trillion i
whey too high on taxes. not nearly enough on spending reductions. >> the president has said all the way along, if i give you a dollar of revenue, if you guys give me a dollar of revenue, that's $3 trillion in spending cuts. he's coming in with 400, so would you try to get him to 3 trillion here or try to bring down the revenue number? >> well, i think you have to bring down the revenue number. we are not going to tax and spend our way back into economic prosperity in this country....
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Jun 24, 2012
06/12
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a family making $50,000 would see their taxes go up by more than $1,300. republicans you're enthralled by norquist's pledge, doesn't the romney/ryan the scheme by lead the pledge? he is on capitol hill today. i hope someone will ask him that question and ask about mitt romney, who wants to come here and work things out, when he would not go for a deal. that is grover's demand. that is what is happening. >> there has been a lot of meetings and have dealt with a lot of republicans. with very few exceptions, there are a couple who of all told me that the biggest single problem is the pledge signed to grover norquist. he has the pledges claimed on the wall of the office. padauk if anybody crosses him, -- if anybody crosses them, none of us have taken a pledge to anything other than the constitution when it comes to serving the senate and the house. those who think that grover norquist is equal to that pledge have lost sight of the notion of public service. if we are going to get serious about ending this recession, if the house republicans, particularly the t
a family making $50,000 would see their taxes go up by more than $1,300. republicans you're enthralled by norquist's pledge, doesn't the romney/ryan the scheme by lead the pledge? he is on capitol hill today. i hope someone will ask him that question and ask about mitt romney, who wants to come here and work things out, when he would not go for a deal. that is grover's demand. that is what is happening. >> there has been a lot of meetings and have dealt with a lot of republicans. with...
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a promise to never raise taxes. at one point, not signing would have been political suicide for republicans, but now, fears about the fiscal cliff and america's debt are pushing some seen here to renounce the pledge. i've been highlighting members of congress who have recently said they're getting over grover. one, tom cole, says he is not bound anymore. representative cole, you wrote allowing taxes to rise for the top bracket may seem acceptable by comparison, but this path would be enormously damaging for the economy. which meant you weren't going to do it. now, you've been urging your fellow congressmen to at least extend the bush era tax cuts to those making less than $250,000 and then do battle over tax cuts for the wealthy later. what has changed your mind? >> frankly, nothing, and you've mischaracterized my position. i'm not for raising tax rates on anybody. it's going to slow down, hurt rates. that's my position. not just because i signed a pledge, because that's what i believe. what i have said is we agree
a promise to never raise taxes. at one point, not signing would have been political suicide for republicans, but now, fears about the fiscal cliff and america's debt are pushing some seen here to renounce the pledge. i've been highlighting members of congress who have recently said they're getting over grover. one, tom cole, says he is not bound anymore. representative cole, you wrote allowing taxes to rise for the top bracket may seem acceptable by comparison, but this path would be enormously...
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go back to the failed economic theory that governor romney and palm ryan want, which is sprinkling tax breaks on the very wealthy and hoping that dribbles down somehow to the middle class. that's what got us into this mess, piers, not going to get us out of this mess. >> michael moore said earlier the republicans may win because better at like, stealing and cheating and because america has become a more racist country. >> i'm going to tell you yes think barack obama and this campaign are going to win because i think we have a better message. i think we have a more hopeful vision of what this country is going to look like. i think we have a campaign that is going to outwork the romney campaign for the last 48 hours, just as we have for the last many, many months, i think when we put all those things together and you see the excitement and the energy that president obama has and that president obama is bringing to we want to do the next four year, i think we are in good position to win this campaign. we just got make sure all the folks there are getting out to vote. i'm in wisconsin tell
go back to the failed economic theory that governor romney and palm ryan want, which is sprinkling tax breaks on the very wealthy and hoping that dribbles down somehow to the middle class. that's what got us into this mess, piers, not going to get us out of this mess. >> michael moore said earlier the republicans may win because better at like, stealing and cheating and because america has become a more racist country. >> i'm going to tell you yes think barack obama and this...
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Mar 31, 2012
03/12
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states to assist with no income tax are low income tax. another decade of that exacerbated. instead of having gridlock in d.c., to gridlock in the democratic senate. they don't necessarily pass position now. in the 50 states use the credit number of them not have gridlock but just the opposite. the republican get together and taxes. other republicans get together and teacher tenure. louisiana, florida, idaho. all the democrats together and continue everything that they have been doing to make illinois the place that illinois yesterday. dramatically different directions state by state, and i think that will help give some of the clarity and transparency about what works and what doesn't. we already see that now they don't have that kind of control. 20 miles outside of the democratic mayors control. >> hi. just get the books. have access to read it. one test c-span.org things. one come out greuel 157, the chains to. no one talks about the impact that had in helping bring the economy down. nothing in one day. probably companies. second, the f
states to assist with no income tax are low income tax. another decade of that exacerbated. instead of having gridlock in d.c., to gridlock in the democratic senate. they don't necessarily pass position now. in the 50 states use the credit number of them not have gridlock but just the opposite. the republican get together and taxes. other republicans get together and teacher tenure. louisiana, florida, idaho. all the democrats together and continue everything that they have been doing to make...
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Nov 26, 2012
11/12
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reform and spending cuts over the raising of taxes. here is the senate republican leader on what the g.o.p. is offering. >> without compromising our principles we put skin in the game and recognition to the fact while democrats don't run this town, neither do we. we have been responsible even as we remain firm on this point. no tax increases now for promised spending cuts that you will not materialize later. the american people have seen that game before. they won't be fooled again. >> house republicans are planning to bring in on wednesday a number of c.e.o.'s of caterpillar, goldman sachs and all state and other key players on fiscal includes including erskine bowles co-author of the simpson-bowles and the republicans want the business community to hear their ideas and make the case a big deal should include spending cuts and reforms. >>shepard: thank you, mike, from capitol hill. grover norquist will join neil cavuto next hour and talk about breaking the anti-tax pledge by some republicans. >> the generation leader who brokered the
reform and spending cuts over the raising of taxes. here is the senate republican leader on what the g.o.p. is offering. >> without compromising our principles we put skin in the game and recognition to the fact while democrats don't run this town, neither do we. we have been responsible even as we remain firm on this point. no tax increases now for promised spending cuts that you will not materialize later. the american people have seen that game before. they won't be fooled again....
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Dec 8, 2012
12/12
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are you -- is there no deal at the end of the year if tax rates for the top 2% aren't the clinton tax rates, period. no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a press conference at the capital, boehner got a question about this. listen carefully to how he responded or didn't respond. >> you did speak with the president earlier this week. can you characterize this call? and also we understand that he just is making clear that it's got to be increasing rates for the wealthy or no deal. are you willing to give a little bit? maybe just not all the way to 39.6? >> the phone call was pleasant, but just more of the same. the conversations that the staff had yesterday, j
are you -- is there no deal at the end of the year if tax rates for the top 2% aren't the clinton tax rates, period. no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the...
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Jun 21, 2012
06/12
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i'm not interested in raising taxes. but they can discuss whether loophole closes or tax increase -- if you take a seat, i'll answer your question. >> following up on that, i know that you believe that spending is the problem. given that some members of your party are showing om reluctant to shine the pledge, do you think -- you have shown some willingness to raise tax revenues as part of an effort to bring down the debt. do you feel that more members of your party are copping around to that view and do you think that will make finding common ground on this issue easier? >> in negotiations with the president i have additional revenues on the table. revenues out of economic growth. revenues out of more efficient tax system. revenues out of what i call tnt cost and having certainty about what the tax code looks like. listen, i do believe that there's a way to resolve it. but at this point, giving this government more revenue would be like giving a cocaine addict what parts to quit more cocaine. we have to have controls on
i'm not interested in raising taxes. but they can discuss whether loophole closes or tax increase -- if you take a seat, i'll answer your question. >> following up on that, i know that you believe that spending is the problem. given that some members of your party are showing om reluctant to shine the pledge, do you think -- you have shown some willingness to raise tax revenues as part of an effort to bring down the debt. do you feel that more members of your party are copping around to...
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May 7, 2012
05/12
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so usually tax reform is holistic within the tax system. the devil is in the details when you get into who's going to lose and who's going to win. >> one of the problems may be when you're thinking about revenue neutrality, the joint tax committee scores it on a static basis. it doesn't take into account changes in behavior people and companies can make based on the tax rate changing. so if we say corporate rate change would be revenue neutral. it might end upbringing in revenue neutral. i think at looking at how tax policy may be scored may be a way in to discuss some of these issues in a way that we can get more agreement. >> if you understand that lower marginal tax rates on the corporate rate and individual rate will give you stronger growth, if we grow for the next decade not at 2% a year, but at 3%, that increase is expected revenue into the federal government alone by 2.5 trillion. $2.5 trillion gives you a lot of wiggle room into tax reform. >> is there a way to wait until that materializes to take advantage of that wiggle room? >>
so usually tax reform is holistic within the tax system. the devil is in the details when you get into who's going to lose and who's going to win. >> one of the problems may be when you're thinking about revenue neutrality, the joint tax committee scores it on a static basis. it doesn't take into account changes in behavior people and companies can make based on the tax rate changing. so if we say corporate rate change would be revenue neutral. it might end upbringing in revenue neutral....
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Nov 27, 2012
11/12
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and the president can push the tax the tax rates on the rich but the republicans are creeding more tax grounds on potentially adding to that with limited deductions on the wealthy, or, say, they focus only on deductions there is a scenario where they limit the deductions and write offs and the rich pay more in taxes than they would if they just raised the rates behalf, to where they were during the time of bill clinton? >> and that is why everything is just talk. just talk. >>neil: you think they will have an incredible deal by the end of the year? >>guest: i have told you before, i'm slightly optimistic. you cannot be more than that when it comes to negotiations. >>neil: since the ice cream bet you hedging because i think you know you got lucky and now you hedge a lot. you sound like a tv anchor. >>guest: i don't want do lose a bet but cut while i'm ahead and i am not irrationale. i don't think either the president or congress wants to become unpopular and congress now is at 18 percent again, do they want to go to system digits? i don't think so. >>neil: grover norquist was here and h
and the president can push the tax the tax rates on the rich but the republicans are creeding more tax grounds on potentially adding to that with limited deductions on the wealthy, or, say, they focus only on deductions there is a scenario where they limit the deductions and write offs and the rich pay more in taxes than they would if they just raised the rates behalf, to where they were during the time of bill clinton? >> and that is why everything is just talk. just talk. >>neil:...
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Dec 3, 2012
12/12
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and dividend taxes are not a rich tax. nor a capital gains. you're talking about pension funds, 401(k) plans, invest in companies that pay dividends. if you're expecting a dividend tax to go from 15% to 44% that, completely removes the opportunity or the incentive to buy dividend paying companies. and that's going to hurt not just the rich. that's going to hurt everybody if we see that. that's very dangerous, and it would create a massive selloff. >> one of the things that the president has done, going to congress and said, going out and encouraging people to tweet and post on facebook my 2k, meaning the $2,000 they would get in the extended tax breaks for the middle class. but he is also meeting privately with ceos. he has a bad relationship with wall street and with corporate america generally. he has presented much of this plan. what's the feedback he's getting? >> there will be a big recession if you don't get behind him. i'm finding many republican ceos -- by the way, most ceos are republican. they are on board. they are not on board with
and dividend taxes are not a rich tax. nor a capital gains. you're talking about pension funds, 401(k) plans, invest in companies that pay dividends. if you're expecting a dividend tax to go from 15% to 44% that, completely removes the opportunity or the incentive to buy dividend paying companies. and that's going to hurt not just the rich. that's going to hurt everybody if we see that. that's very dangerous, and it would create a massive selloff. >> one of the things that the president...
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Dec 22, 2012
12/12
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energy is a tax on -- energy prices are a tax on everyone. >> right. >> they're a tax on households, on business ls. and we are going to see much more available cheaper energy and that will lower the burden on households and crucially, as you pointed out -- and this is where i think you're going to see a knock-on effect, it makes manufacturing more viable in the u.s. so it's not just the jobs in the energy sector. it's the fact that all of them, especially natural gas, which is hard to transport, it starts to make sense to locate those factory where is that energy is. p other thing that i love about the energy is story is, as we've discussed a lot, one of my huge concerns about the u.s. economy is well-paying middle-class jobs. and i think that, you know, we can't neglect the economic reality that we are seeing the hollowing out of those jobs, huge downward pressure on wages. >> right. >> in the energy sector, that's not happening so much because in the actual production of natural resources you can't outsource those jobs. those are good jobs. >> can i give you an example of what she
energy is a tax on -- energy prices are a tax on everyone. >> right. >> they're a tax on households, on business ls. and we are going to see much more available cheaper energy and that will lower the burden on households and crucially, as you pointed out -- and this is where i think you're going to see a knock-on effect, it makes manufacturing more viable in the u.s. so it's not just the jobs in the energy sector. it's the fact that all of them, especially natural gas, which is hard...
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Apr 17, 2012
04/12
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you have people staking out position whether it is a buffett tax or they want to tax this or not tax that, we think there is an opportunity for comprehensive tax reform. we are not in this by ourselves. this affects u.s. taxpayers and we compete as you point out many times, all around the world. what a mess, what an embarrassment for the united states to not know what our tax structure is and tell us not to compete. >>stuart: the mother of all tax hikes coming up in vehicle, that is correct. yes? >>guest: and the tax height will be vicious and that is why elections will matter. >>stuart: they always do, always a pleasure, thank you for joining us, sir. the buffett rule. it bombed. senators shooting down plans what would force millionaires to pay a minimum tax rate. the president pushed hard for the bill named after billionaire investor warren buffett but my next guest did not obey orders. democrat senator pryor the only democrat to vote against the buffett rule. why? >>guest: several reasons, one, when i travel the state of arkansas people are tired of the partisan games they see in
you have people staking out position whether it is a buffett tax or they want to tax this or not tax that, we think there is an opportunity for comprehensive tax reform. we are not in this by ourselves. this affects u.s. taxpayers and we compete as you point out many times, all around the world. what a mess, what an embarrassment for the united states to not know what our tax structure is and tell us not to compete. >>stuart: the mother of all tax hikes coming up in vehicle, that is...
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Nov 27, 2012
11/12
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CNNW
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when is a tax increase not really a tax increase. if you don't raise the top rate, if you were talking to the senator before, but you do cap deductions, for the wealthy, does that count as a tax increase? in my book it does count. would republicans then be able to say, well, we didn't raise the top rate? so i think what we see going on right now is a lot of theatrics, you see some republicans in the senate. and i would argue that the house republicans are the ones we really need to hear from, because they're the most dug in on the tax question. so you hear some republicans kind of saying, you know, that's a pledge that was 20 years ago, et cetera, et cetera. bottom line, wolf. you need to have entitlement reform and those spending cuts on the table and you need to have tax increases on the table. then they can all hold hands and jump off the cliff together. >> even though the styles that republicans are using to pedal their position right now seems to be shifting the substance of the position. seems to be pretty much the same as it's
when is a tax increase not really a tax increase. if you don't raise the top rate, if you were talking to the senator before, but you do cap deductions, for the wealthy, does that count as a tax increase? in my book it does count. would republicans then be able to say, well, we didn't raise the top rate? so i think what we see going on right now is a lot of theatrics, you see some republicans in the senate. and i would argue that the house republicans are the ones we really need to hear from,...
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Nov 16, 2012
11/12
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the president campaigned on tax hikes on the wealthy as a piece of overall taxes. it's something that absolutely has to be discussed. david, those are the words i read from the governor of virginia, bob mcdonald. what do you make? >> elected officials really wake up when they see some of their peers losing in an election. there but for the grace of a couple votes could go i. maybe governor mcdonald sees what happened in tim kaine's victory in virginia. i think what's going on here is a recalibration by republicans where they've concluded that getting something done is better for them long-term than remaining obstructionist. i think that's good for everybody involved. if you think back to when there have been big losses for democrats in 2004, when john kerry lost, or even in 2010, there's a necessary retrenchment that goes on and a recalculation and a recalibration. that's going on right now. the country, i think, will benefit from this, and governor jindal said it best himself. there should be a strong competition for every vote from two parties. he doesn't believe
the president campaigned on tax hikes on the wealthy as a piece of overall taxes. it's something that absolutely has to be discussed. david, those are the words i read from the governor of virginia, bob mcdonald. what do you make? >> elected officials really wake up when they see some of their peers losing in an election. there but for the grace of a couple votes could go i. maybe governor mcdonald sees what happened in tim kaine's victory in virginia. i think what's going on here is a...
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>> make any tax increase, rolling back bush tax cuts, for example, conditional upon reaching agreement that stop the debt growing as a percent of gdp. they can't reach the agreement by the end of the year so as a part of this, agree to retroactively roll back bush tax cuts if they reach agreements. >> the democrats thought they did enough deficit cutting. >> not even close. >> right. >> 0%, you need $900 billion of tax increases or spending cuts to stop debt growing as a percent of gdp. on the $900 billion you need, you need more than that. the president, who wants to support his spending, needs enormous tax increases, and public opinion says he can blame tax increases on republicans if he's over the cliff so his threat to go over the cliff, i think, is very credible, and i think the republicans are in a very procare yows negotiating position because if they are blamed for this, they'll loss the house, and if they lose the house, there's enormous damage done to the economy. >> that's all the control they have left. they don't want to lose that in two years. back to the math to dig into
>> make any tax increase, rolling back bush tax cuts, for example, conditional upon reaching agreement that stop the debt growing as a percent of gdp. they can't reach the agreement by the end of the year so as a part of this, agree to retroactively roll back bush tax cuts if they reach agreements. >> the democrats thought they did enough deficit cutting. >> not even close. >> right. >> 0%, you need $900 billion of tax increases or spending cuts to stop debt...
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Dec 1, 2012
12/12
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if taxes only mean the tax, the income tax portion of tax burden for four fifths of the country, you're talking about something that doesn't matter that much. and in a democracy, you cannot be a successful party if you talk about things that don't matter that much to four fifths of the country. >> all right, your paycheck, your investment, your home, they may all be taxed a bit differently next year. that's if law makers can decide on a plan to avoid the fiscal cliff. so coming up next, i'm going to talk about a deduction that america loves, you probably love, but might be taken away. [ male announcer ] this is bob, a regular guy with an irregular heartbeat. the usual, bob? not today. [ male announcer ] bob has afib: atrial fibrillation not caused by a heart valve problem, a condition that puts him at greater risk for a stroke. [ gps ] turn left. i don't think so. [ male announcer ] for years, bob took warfarin, and made a monthly trip to the clinic to get his blood tested. but not anymore. bob's doctor recommended a different option: once-a-day xarelto®. xarelto® is the first and onl
if taxes only mean the tax, the income tax portion of tax burden for four fifths of the country, you're talking about something that doesn't matter that much. and in a democracy, you cannot be a successful party if you talk about things that don't matter that much to four fifths of the country. >> all right, your paycheck, your investment, your home, they may all be taxed a bit differently next year. that's if law makers can decide on a plan to avoid the fiscal cliff. so coming up next,...
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May 7, 2012
05/12
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this other, corporate taxes, paid $287 billion of taxes, isn't the corporate tax simply too small to feed very many mouths? >> well, you know, i understand the argument. i don't think politically you can get that done. i do think the '86 bill is something that should be looked at. and perhaps it will be looked at as they go through this process. i thought it was an improvement. we got rid of a lot of underbrush in the code that had been built up over a period of years. a lot of it's come back and maybe can be taken out again. we seem to do this every 20 years or so. we clean out the attic. so maybe that could be a good model. >> '86 is a model in a couple ways. it focused on reducing rates. second, there was agreement ahead of time it wasn't going to be a trojan horse for tax increase. there was one in agreement and two reagan's veto. enough house members no net tax increase you could do revenue neutral or tax reducing tax reform and feel comfortable one branch wasn't going to allow to the turn into a tax increase. i would stress i think that expensing rather than long depreciation s
this other, corporate taxes, paid $287 billion of taxes, isn't the corporate tax simply too small to feed very many mouths? >> well, you know, i understand the argument. i don't think politically you can get that done. i do think the '86 bill is something that should be looked at. and perhaps it will be looked at as they go through this process. i thought it was an improvement. we got rid of a lot of underbrush in the code that had been built up over a period of years. a lot of it's come...
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Jun 18, 2012
06/12
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mitt won't say a word about taxes that nordqvist might disapprove. he won't approve spending that grover won't say okay to. it makes grover's rover. grover says fetch, mitt fetches. grover says beg, mitt begs. same with the relidging right. he won't say a word that graham won't approve. he was at liberty university getting an honorary degree. i didn't know they give honorary degrees for pandering. he sold his soul to every right wing faction out there. the neocons, the religious right on social policy, grover on the tax issue. why have a brain if you don't have to think? with this crowd around him, he just has to do what he's told. listen closely, tell me if you have ever heard mitt romney say something that is not perfect right wing taking pounds. the exact words the pressure groups are telling him to say. he's a speaker system. it's "hardball" for now. the "the ed show" starts right now. >> good evening, and welcome to the "the ed show" live from los angeles. president obama has mitt romney mumbling, stumbling, and fumbling with his new immigration
mitt won't say a word about taxes that nordqvist might disapprove. he won't approve spending that grover won't say okay to. it makes grover's rover. grover says fetch, mitt fetches. grover says beg, mitt begs. same with the relidging right. he won't say a word that graham won't approve. he was at liberty university getting an honorary degree. i didn't know they give honorary degrees for pandering. he sold his soul to every right wing faction out there. the neocons, the religious right on social...
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Nov 27, 2012
11/12
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that wasn't his tax policy. you can have financial problems from printing too much money and inflation under carter, not just high tax rates but inflation. if buffet goes back and looks at how the kennedy years did after the marginal tax rate cuts and the reagan years, he'd understand that economic growth -- you know, he says he made a lot of money selling bonds. the question is how many money the people who invested in those bonds made, we need economic growth and not higher taxes. if the government taking a dollar aaway, that dollar is not available to be invested. the return on that dollar is zero. for buffet to not understand if you take money out of the economy it's gone is a little bit odd. he's willing to write it. if he wants to write a check, he should write a check and shut up about what everyone else should do. >> the richest guy in america things he should make more taxes. >> then do so. >> fwri in policies that make all people do that. grover as always combative fun and good to talk with you. a man
that wasn't his tax policy. you can have financial problems from printing too much money and inflation under carter, not just high tax rates but inflation. if buffet goes back and looks at how the kennedy years did after the marginal tax rate cuts and the reagan years, he'd understand that economic growth -- you know, he says he made a lot of money selling bonds. the question is how many money the people who invested in those bonds made, we need economic growth and not higher taxes. if the...
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Jul 1, 2012
07/12
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that is the expiration of some tax cuts, some of which you'll know as the bush tax cuts, and some other benefits on midnight on december 31st if congress does nothing. i don't know about you, but i am pretty concerned about what this all adds up to. if you're not, that's good for america. you'll keep spending and if i'm wrong, then i'm wrong. i'll wear that. but i'm not running for office. my job is to arm you with the truth about what is happening in this economy. people's futures are at stake and now more than ever you need to be informed. joining me to discuss our best line of defense against this storm is stephen moore, editorial writer for "the wall street journal." diane swunk, mohammed alarian, ceo of pimco, the world's largest investor in bonds. romney-obama, romney-obama. who cares? it truly doesn't matter who is going to become the president of the united states. because if they win, the things that have to be done to fend off this storm have got to be done in congress and nobody seems to get anything done in congress. >> with all due respect, you are wrong on this. i actually
that is the expiration of some tax cuts, some of which you'll know as the bush tax cuts, and some other benefits on midnight on december 31st if congress does nothing. i don't know about you, but i am pretty concerned about what this all adds up to. if you're not, that's good for america. you'll keep spending and if i'm wrong, then i'm wrong. i'll wear that. but i'm not running for office. my job is to arm you with the truth about what is happening in this economy. people's futures are at stake...
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Nov 27, 2012
11/12
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CURRENT
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. >> i myself am opposeed to tax increases. >> i don't think if you raise taxes 100% on the wealthy. you're not going to fix the revenue problems. >> all our democratic colleagues want to talk about is more taxes, more taxes more revenue. >> we never cut spending. >> you want additional revenue by capping deductions. >> i will not raise tax rates to do it. i will cap deductions. >> cenk: aah, so they don't want to raise the rates. what they want to do is take away things like your home mortgage deduction. you know who that hits, the middle class. of course! of course! they're going to take most of it from the middle class. you think they're going to give up tax cuts to the rich? this republican party? it's mainly a trick. nonetheless, grover norquist said not enough, nin nin nin is that too much. >> they need to focus on reforming government not raise taxes to pay for bigger government each year. it's not working. it's not easy. but throwing up your hands and saying maybe i'll throw up taxes instead of governing is not the way to go. >> cenk: you know raising taxes is also governing.
. >> i myself am opposeed to tax increases. >> i don't think if you raise taxes 100% on the wealthy. you're not going to fix the revenue problems. >> all our democratic colleagues want to talk about is more taxes, more taxes more revenue. >> we never cut spending. >> you want additional revenue by capping deductions. >> i will not raise tax rates to do it. i will cap deductions. >> cenk: aah, so they don't want to raise the rates. what they want to do...
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Dec 11, 2012
12/12
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i also think some people trapped in mutual funds because they have low tax basis will do tax gains harvesting, realize their gains, pay 15% and move that money finally into cheaper, more tax efficient and better profits etf has to offer. >> trader talk column, trader talk cnbc.com in a few moments. that's what's hot, etfs. back to you. >> we look forward to that very much. thanks, guys. gold market selling off a little bit. at the close, sharon epperson tracking the action at the nymex. moving into stocks and out of the metals. >> they are. we're seeing a little bit of weakness in the gold futures price. gold etfs held up steadily over the last several weebs as well as record levels, in fact. in term of the flat price we are looking at 1710, down $4. investors say they are waiting, waiting to see what comes out of the fed meeting tomorrow. because of that, that is helping to mitigate losses we've seen, perhaps, in the gold market. we are looking at lower prices across the board in the metals complex, lower prices for silver, lower prices for copper as well, even for palladium that had a nice
i also think some people trapped in mutual funds because they have low tax basis will do tax gains harvesting, realize their gains, pay 15% and move that money finally into cheaper, more tax efficient and better profits etf has to offer. >> trader talk column, trader talk cnbc.com in a few moments. that's what's hot, etfs. back to you. >> we look forward to that very much. thanks, guys. gold market selling off a little bit. at the close, sharon epperson tracking the action at the...